Word: gm
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Dates: during 1970-1979
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...rushing to keep up with ever rising demand, and textile makers, who are in the midst of a boom. In the auto industry, where sales are soaring, Ford will increase its spending 40%, to $1.4 billion this year, and Chrysler will raise outlays 18%, to $450 million. But GM's planned spending of $2.5 billion will only about match last year's pace...
...winner from the U.S. motorists' post-recession tendency to buy small-or at least smaller-and spend big has been General Motors. Its rise in sales this year of some 622,000 cars has been larger than the increases at all the other automakers combined. Among GM's leaders: the Chevrolet Monte Carlo and the Pontiac Grand Prix, both carrying base prices of $4,600 to $5,200, and its compact Chevy Nova and Oldsmobile Cutlass, which lists at $4,500 and has been the industry's top seller for two years running...
Despite the poor showing of the subcompacts, Detroit must steadily trim car size and weight if it is to meet a congressionally imposed gas economy standard of 27.5 miles per gallon by 1985 (v. an average of 17.6 m.p.g. for the 1976s). GM plans to introduce smaller, more fuel-efficient versions of its heavy standard-sized models this fall. Chrysler is currently offering a Japanese-made sub-compact called the Plymouth Arrow and intends to produce its own domestically built subcompact next year. Whether or not American motorists can ever learn to love them, smaller cars appear to be firmly...
...country. The auto giant reported first-quarter profits of $800 million, v. $59 million a year earlier-when the auto industry and the whole economy were floundering at the bottom of the nation's worst postwar recession. Although few if any companies matched that 1,200% leap, GM's dazzling performance highlights a happy trend: corporate profits have already rebounded from the slump to near-record levels. Most estimates are that the first-quarter profits of all the nation's companies rose a total 40% to 50% above the 1975 period. The leap, of course, was from...
...GM is not the only spectacular gainer. Chrysler rang up a first-quarter profit of $72.1 million, v. a loss of $94.1 million in the opening three months of 1975. Outside the auto industry, profits of electronic and electrical-equipment firms on average have more than doubled; some apparel and textile firms are showing increases of more than 300%; profits in the glass business (whose fortunes are closely tied to Detroit's) seem to be up 150% or so. Even railroads and some airlines are showing modest gains. Metals producers are lagging: U.S. Steel's profits fell...